Success of Family Company: Critical Evidence from the Portugal

2018 ◽  
Vol 8 (3) ◽  
pp. 100-108
Author(s):  
Anastasia Murinova ◽  
Vojtech Koráb
Keyword(s):  
Family Business ◽  
Success Factors ◽  
Web Pages ◽  
Scientific Methods ◽  
Key Success Factors ◽  
Depth Interview ◽  
The Family ◽  
Significant Step ◽  
Company Representative

Abstract During the last time, the attention to a phenomenon of family business steadily grows. Today this form of business is considered to be a vital and needful for economic development. Despite this, the basic theory of family business is heterogeneous, limited and insufficient. The purpose of this paper is to define the sense of family company’s success. The object of research is family business as an economic phenomenon. There is a double subject of this study: firstly, to find out the main indicators and information resources about successful companies can be detected and, secondly, to analyze one representative family company managed by several generations as a case study for identifying its key success factors. This qualitative research was prepared on the basis of general theoretical scientific methods, in particular, analysis, synthesis, analogy, comparison, generalizations and methods of expert estimates. In the first phase, secondary research of scientific literature and electronic resources about the paper topic was conducted. On the base of that results, the primary research was conduct, which is based on analysis of family wine company Quinta de Santa Eufemia in Portugal. That research part has the form of a case study. Based on the received information, the key success factors were identified. The sources of that research are internet web-pages of the company, articles about the company in magazines and scientific journals form Emerald database, reports of the company and financial data from Amadeus database, in-depth interview with a family member of a family company representative. The scientific acquisition of this research is improving understanding of a family company’s success from the perspective of difficulties faced by a family company and the way of overcoming obstacles. The results of this study allowed to find a main point for the family company’s success based on literature review. In addition, the activity of Quinta de Santa Eufemia was analyzed as the case study for critical evidence of that phenomenon. This study has contributed to the theoretical part of family business research providing a significant step to providing insight the family company’s success and its main factors which influence an effective functioning of a family company.   Keywords: family company, success, winery, family business

Family business insights: an overview of the literature

2015 ◽  
Vol 5 (1) ◽  
pp. 116-127 ◽  
Author(s):  
Paul Pounder
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Success Factors ◽  
Family Businesses ◽  
Continuous Change ◽  
Business Leadership ◽  
Content Type ◽  
Key Success Factors ◽  
Quantitative Studies ◽  
The Family

Purpose – The purpose of this paper is to investigate how the family business literature has evolved, and to examine the factors influencing family-owned and managed businesses. The paper discusses important patterns in the present literature and new directions for future study. Design/methodology/approach – The research identifies key research topics and methodical approaches to understand family businesses. Insights into the reasoning behind the historic changes and the current direction and trends of the family business literature are also identified. Findings – The findings of this research argues that the main cause of the challenges in running a family business stem from the management of the interrelationship between family concerns and business concerns. Strong leadership and building a culture that accepts continuous change are key success factors. Research limitations/implications – Due to the specific nature of the family business dynamics and decision-making conflict, which can hardly be captured by quantitative studies alone, a promotion of qualitative studies is advisable. Practical implications – This study suggests that understanding the culture surrounding decision making in family business has great value. Characteristics such as aggressiveness, fearlessness and competition are key areas for investigation. Social implications – Overlooking the potential of non-family members for family business leadership can produce sub-optimal choices of successors. Further, the aspiration to change society’s and government’s view of family businesses warrants attention. Originality/value – This review of previous research offers researchers a broader and comprehensive view of the family business, which is inclusive of the challenges, decision making and solutions within the family business structure. Researchers, educators and practitioners will benefit from this paper.

“We are a family firm”

2018 ◽  
Vol 8 (1) ◽  
pp. 2-21 ◽  
Author(s):  
Claudia Binz Astrachan ◽  
Isabel C. Botero
Keyword(s):  
Family Business ◽  
Family Firms ◽  
Family Firm ◽  
Business Owners ◽  
Public Companies ◽  
Content Type ◽  
Brand Building ◽  
Depth Interview ◽  
The Family ◽  
Family Associations

Purpose Evidence suggests that some stakeholders perceive family firms as more trustworthy, responsible, and customer-oriented than public companies. To capitalize on these positive perceptions, owning families can use references about their family nature in their organizational branding and marketing efforts. However, not all family firms actively communicate their family business brand. With this in mind, the purpose of this paper is to investigate why family firms decide to promote their “family business brand” in their communication efforts toward different stakeholders. Design/methodology/approach Data for this study were collected using an in-depth interview approach from 11 Swiss and German family business owners. Interviews were transcribed and coded to identify different themes that help explain the different motives and constraints that drive their decisions to promote the “family business brand.” Findings The analyses indicate that promoting family associations in branding efforts is driven by both identity-related (i.e. pride, identification) and outcome-related (e.g. reputational advantages) motives. However, there are several constraints that may negatively affect the promotion of the family business brand in corporate communication efforts. Originality/value This paper is one of the first to explore why family businesses decide to communicate their “family business brand.” Building on the findings, the authors present a conceptual framework identifying the antecedents and possible consequences of promoting a family firm brand. This framework can help researchers and practitioners better understand how the family business nature of the brand can influence decisions about the company’s branding and marketing practices.

MANAGING DIGITAL TRANSFORMATION IN DIGITAL BUSINESS ECOSYSTEMS

2021 ◽  
Author(s):  
TIINA TAWASTSTJERNA ◽  
HEIDI OLANDER
Keyword(s):  
Success Factors ◽  
Collaborative Governance ◽  
Digital Transformation ◽  
Key Success Factors ◽  
Multiple Partners ◽  
Business Ecosystems

Previous research has increased our understanding of digital transformation (DT) and digital business ecosystems as independent topics. Less is known about how DT unfolds in digital business ecosystems. Such collaborative creation of digital innovations is affected by individual actors and by ecosystem as a whole. Based on an empirical case study of an ecosystem facilitator company and its digital business ecosystems as embedded cases, this paper contributes to the understanding of key success factors in new digital business ecosystems. The findings support collaborative governance as an important tool in leading the DT among multiple partners. Moreover, the findings present the concept of a common rulebook, including the practices, principles, guidelines, tools, handshakes, and boundaries, as an enabler for ways of working in an ecosystem. Managers can use this paper to increase their understanding on the governance of digital business ecosystems and to clarify their organisational expectations when participating in joint endeavours involving DT.

scholarly journals Percepciones en torno a una educación remota y a una educación híbrida universitaria durante la pandemia de la COVID-19: estudio de caso

2021 ◽  
pp. 25-39
Author(s):  
Jorge Balladares Burgos
Keyword(s):  
Higher Education ◽  
Blended Learning ◽  
Success Factors ◽  
Formal Concept ◽  
Research Approach ◽  
Strategic Learning ◽  
Remote Education ◽  
Key Success Factors ◽  
Estudio De Caso

El presente artículo tiene como propósito realizar un estudio sobre las percepciones en torno a una educación remota y a una educación híbrida en la educación superior.  El estudio de caso de un programa universitario de posgrado se articula con el enfoque de la investigación basada en el diseño para analizar percepciones sobre una educación remota en tiempos de pandemia e identificar factores claves de éxito para una nueva normalidad educativa a partir de los microciclos de la fase de implementación.  Entre los hallazgos, se reconoce que una educación remota respondió a la emergencia de la pandemia y se identificaron factores claves de éxito tales como la temporalización del proceso de enseñanza y aprendizaje, la docencia sincrónica, el diseño tecnopedagógico de los entornos virtuales de aprendizaje, y la transformación digital universitaria.  Estos resultados permiten resignificar el concepto tradicional de educación híbrida incorporando fortalezas de la educación remota, y reposicionándola como una modalidad de estudio estratégica para una nueva normalidad educativa que recupere progresivamente la presencialidad y expanda el aprendizaje de los estudiantes. La presente investigación contribuye a plantear pistas desde la educación híbrida hacia una renovada educación postpandemia. The purpose of this article is to lead a case study on perceptions around remote education and hybrid education in higher education.  The case study of a graduate university program is articulated by the design-based research approach for analyzing perceptions about remote education in the Covid-19 pandemic and to identify key success factors for new educational normality through the microcycle of análisis and exploration.  Among the findings, it is recognized that remote education responded to the emergency of the pandemic and identified key success factors such as teaching and learning timing, synchronous teaching, instructional design of virtual learning environments, and digital transformation in universities. These results allow us to re-signify the formal concept of blended learning including key strengths of remote learning and consider it as a strategic learning model for new higher education normality that will progressively recover face-to-face classrooms and expand students’ learning. This research contributes to raising clues from blended learning to renovate post-pandemic education

scholarly journals Family Business: An Entrepreneurial Longer-Term Perspective

2016 ◽  
Vol 7 (1) ◽  
pp. 9
Author(s):  
Ratna L. Nugroho
Keyword(s):  
Conceptual Model ◽  
Family Business ◽  
Business Case ◽  
Business Research ◽  
The Family ◽  
Business Case Study ◽  
The Many

This family business case study is concerned with investigating the issue of the complexity of the many views of the family business research, focusing exclusively on the entrepreneurial concept. In taking this concept, three characteristics were identified in this case study, namely: the attitudes, the skills, and the behavior. Along with these findings, it is suggested that the conceptual model, the so-called “the three circles,” where this three circle has an overlap and identify as a longer-term entrepreneurial perspective within the family-owned enterprise.

scholarly journals Tacit knowledge, as a source of competitiveness: case study

2021 ◽  
pp. 27-33
Author(s):  
Patricia RIVERA-ACOSTA ◽  
Rosa Elia MARTÍNEZ-TORRES ◽  
Maricela OJEDA-GUTIÉRREZ
Keyword(s):  
Tacit Knowledge ◽  
Family Business ◽  
Raw Materials ◽  
Talent Management ◽  
Formal Training ◽  
Case Study Methodology ◽  
Knowledge Based ◽  
The Family ◽  
Study Methodology

In the society of the XXI century it is generally accepted that a new intangible resource of organizations is knowledge, in addition to the other existing resources: human, capital, raw materials and equipment. This is particularly true in a knowledge-based society and economy, where knowledge has become an invaluable medium for all organizations, particularly businesses. The objective of this paper is to make a diagnosis to describe how to apply knowledge management in the family business Campechanas la Escondida de la Trinidad. This project is based on a case study methodology, with a descriptive type of research; the collection of information uses as instruments with a qualitative approach, observation and interviewing. The results obtained show a dependence on the tacit knowledge possessed by bakers who apply in the artisanal process, in addition to family members, lack human talent management, formal training and innovation, which has limited their competitiveness.

Global Lighting Centre Ltd.

2015 ◽  
pp. 212-232 ◽  
Author(s):  
Lydia Andoh-Quainoo
Keyword(s):  
Family Business ◽  
Family Members ◽  
The Other ◽  
Business Success ◽  
Environmental Challenges ◽  
Depth Interview ◽  
The World ◽  
African Context ◽  
Starting A Business

The purpose of this case study is to examine the motivation and challenges influencing entrepreneurial startup of family businesses from Africa, specifically Ghana. The case brings out how the founder of a family business has been able to manage these challenges and incorporate non-family members for business success. The case further explores the differences and similarities in the motivational factors and challenges associated with starting a business in an African context, specifically Ghanaian context, as compared to the other parts of the world. A questionnaire and in-depth interview was used to gather data. The findings suggest that though there are several personal and environmental challenges faced when starting a family business in Ghana, entrepreneurs with strong mental and personality qualities or characteristics are able to make it.

Das Chamäleon-Modell als Erklärungsmuster für die Organisationsstrukturen von Unternehmerfamilien

2019 ◽  
Vol 67 (1) ◽  
pp. 1-34 ◽  
Author(s):  
Rena Haftlmeier-Seiffert ◽  
Sven Cravotta
Keyword(s):  
Decision Making ◽  
Family Business ◽  
Research Question ◽  
Multiple Case Study ◽  
Economic Stability ◽  
Family Organization ◽  
The Family ◽  
Different Types ◽  
Multiple Case

Zusammenfassung Offensichtlich sind es die Unternehmerfamilien, die ihrem Familienunternehmen eine besondere wirtschaftliche Stabilität verleihen. Dies ist allerdings nur möglich, wenn sie sicherstellen, dass sie stets handlungs- und entscheidungsfähig sind. Die hier verfolgte Forschungsfrage lautet deshalb: Wie organisieren Unternehmerfamilien ihre Entscheidungsfähigkeit? Das Chamäleon-Modell zeigt, dass bei Unternehmerfamilien verschiedene Organisationsformen latent vorhanden sind. Diese werden flexibel eingesetzt, je nachdem, was zielführend ist, um schnell zu tragfähigen Entscheidungen zu gelangen. D.h. die Unternehmerfamilienorganisation wechselt also ihre explizite Organisationsform wie ein Chamäleon die Farbe. Das Chamäleon-Modell wurde aus einer multiplen Fallstudie entwickelt, bei der vier traditionsreiche Unternehmerfamilien intensiv untersucht wurden. Abstract Apparently, it is the family that grants outstanding economic stability to the family business. However, this is only possible, if the family ensures to be always capable of acting and of making decisions. This leads us to the following research question: How do entrepreneurial families organize their decision-making ability? The Chameleon Model shows, that there are different types of organization latent available for entrepreneurial families. These are used flexibly, depending on what is leading to quick and stable decisions. That is to say, the entrepreneurial family organization changes the explicit organization form like a chameleon the colour. The Chameleon Model was developed from a multiple case study, analyzing four traditional entrepreneurial families in depth.

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